President Trump today said he was imposing tariffs on $50 billion worth of goods from China, risking a trade war with the world’s most populous country.
In a statement released Friday morning by the White House, the president said he was taking the action “in light of China’s theft of intellectual property and technology and its other unfair trade practices.”
“The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices,” Trump said in the statement.
Trump also said the U.S. will pursue additional tariffs if China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products; raising non-tariff barriers; or taking punitive actions against American exporters or American companies operating in China.
The tariffs on China, Trump said, are “essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs. In addition, they will serve as an initial step toward bringing balance to the trade relationship between the United States and China.”
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